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IL HB5412
Bill
Status
Introduced
2/6/2026
Primary Sponsor
Ann Williams
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AI Summary
- Increases the maximum loan amount for fire truck purchases from $350,000 to $750,000 per truck under the fire truck revolving loan program
- Raises the maximum ambulance loan amount from $200,000 to $350,000 per fire department, fire protection district, or non-profit ambulance service
- Transitions the Fire Truck Revolving Loan Fund, Fire Station Revolving Loan Fund, and Ambulance Revolving Loan Fund from State Treasury special funds to locally held funds established by the Illinois Finance Authority
- Removes the requirement that loan funds be subject to appropriation, allowing disbursement directly from Authority-held funds
- Maintains existing loan terms including up to 20-year repayment for fire trucks, 25-year repayment for fire stations (max $2 million), and 10-year repayment for ambulances
Legislative Description
IFA-FIRE TRUCK LOANS
Last Action
Referred to Rules Committee
2/13/2026
Committee Referrals
Rules2/13/2026
Full Bill Text
No bill text available